Cement manufacturers in Nigeria have agreed to bring down the price of the product to between N7,000 and N8,000 per 50kg depending on the location nationwide.
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The manufacturers present also expressed their readiness to bring down the prices in the future as soon as the Federal Government intervention is fulfilled.
This agreement between the Federal Government and the manufacturers was reached at a meeting called by the Minister of Works Senator David Umahi on Monday in Abuja.
“The cement manufacturers and the Government noted that the current high price of cement is abnormal in some locations nationwide. Ideally, cement retail prices should not cost more than ₦7,000.00 to ₦8,000.00/ 50kg bag of cement,” the ministry said in a statement.
“Therefore, the three cement manufacturers: Dangote Cement Plc, BUA Cement Plc and Larfarge Africa Plc have agreed that cement cost will not be more than between ₦7,000.00 and ₦8,000.00/50kg bag depending on the location.”
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